China wobble knocks stocks, bitcoin eyes $10,000.

LONDON (Reuters) - World stocks edged lower on Monday, led by a fall in Chinese share prices and a sell-off in South Korean tech stocks that kept risk appetite muted, while the euro hit a two-month high against the dollar on optimism around German coalition talks.

Away from the main markets, bitcoin's vertiginous ascent showed no signs of abating, with the cryptocurrency soaring to another record high just a few percent away from $10,000 after gaining more than a fifth in value over the past three days alone (BTC=BTSP).

European shares inched higher, reversing earlier weakness as financials gained ground amid fresh dealmaking activity. [.EU]

But those gains were not enough to pull up the MSCI world equity index <.MIWD00000PUS>, which tracks shares in 47 countries. The index was down 0.1 percent on the day.

In Asian trading, Shanghai shares (.SSEC) fell 0.9 percent to a three-month low, having already been on a shaky footing due to a rout in the domestic bond market and fresh moves to reduce risks in the asset management industry that may bring a sea change for banks. [.SS]




By Jemima Kelly
Full story at Yahoo News.